L Brands Inc. (NYSE:LB) has been assigned a $90.00 target price by equities research analysts at Oppenheimer Holdings Inc. in a report issued on Thursday. The firm presently has a a “buy” rating on the stock. Oppenheimer Holdings Inc.’s price objective suggests a potential upside of 26.35% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. Bank of America Corp. lowered shares of L Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $74.00 to $57.00 in a report on Tuesday, June 28th. Mizuho restated a “buy” rating and issued a $85.00 price objective on shares of L Brands in a report on Monday, September 26th. Vetr lowered shares of L Brands from a “strong-buy” rating to a “hold” rating and set a $66.86 price objective on the stock. in a report on Tuesday, June 28th. Citigroup Inc. raised their price objective on shares of L Brands from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Finally, FBR & Co restated a “market perform” rating and issued a $75.00 price objective on shares of L Brands in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and an average target price of $77.95.
L Brands (NYSE:LB) opened at 71.23 on Thursday. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11. The company’s 50-day moving average is $73.51 and its 200-day moving average is $73.30. The firm has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91.
L Brands (NYSE:LB) last released its earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. The company had revenue of $2.89 billion for the quarter. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. L Brands’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. On average, analysts predict that L Brands will post $3.83 EPS for the current year.
In other news, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the transaction, the insider now owns 13,970 shares of the company’s stock, valued at $1,082,535.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Charles Mcguigan sold 23,687 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Financial Architects Inc raised its position in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in L Brands during the second quarter worth $123,000. Whittier Trust Co. of Nevada Inc. raised its position in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares in the last quarter. Global X Management Co. LLC raised its position in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock worth $145,000 after buying an additional 124 shares in the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.
About L Brands